Solar Loan
An unsecured or home-secured loan used to finance solar panel and battery installation, typically with 10–25 year terms.
Quick answer
Solar Loan: An unsecured or home-secured loan used to finance solar panel and battery installation, typically with 10–25 year terms. Typical cost: 5.99%–9.99% APR typical; loan amount equals system price..
Why it matters
Solar loans let you keep the 30% tax credit and own the system, but watch dealer-fee buy-downs that inflate sticker price by 20–30%.
Typical cost
5.99%–9.99% APR typical; loan amount equals system price.
Pros
- • Keep tax credit
- • Own the system
- • Predictable monthly cost
Cons
- • Dealer fees baked into price
- • Lien on home in some products
Common uses
- • Most owner-installed residential solar
Alternatives
CashHELOCLease/PPA
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Frequently asked questions
- HELOC or solar loan?
- HELOCs are usually 1–2 points cheaper but carry foreclosure risk; solar loans are simpler and unsecured.
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Estimates and guidance are educational. Always confirm with a licensed local professional before making decisions.